Paul Krugman on Debt

This is why it's a good idea to have guys around who have "Swedish thingies" in their bookcases. They can put fears about the national debt into proportion for us.

Do you own a home? Have a mortgage on it? How big is that mortgage as a ratio to your annual income? I'll bet it's a lot more than 60% as big as your annual income. I'll bet it's bigger than your annual income. Are you worried? Is the bank worried?

Yeah. Paul Krugman is not worried about 60% of annual income, either.

Yes, I realize that's not what he's actually saying, because GDP is not national "income;" but his point is that it is not necessary to let the sheer size of the numbers, alone, frighten us out of out wits.